Annual Budget and Financial Reports

Annual Operating Budget

The adopted Annual Operating Budget is provided below in PDF format for your convenience. The budget includes an overview section designed to reduce the level of difficulty for readers unfamiliar with public budgeting systems. The budget provides comprehensive information for staff to use as a financial policy and day-to-day operation guideline. The document is intended to be a tool in managing daily operations.

Capital Improvement Program

Included in the annual budget is an updated Capital Improvement Program (CIP), which is a plan summarizing all major capital expenditures over the next five years. The plan provides structure for the City to plan future projects. The CIP includes a description of each approved project, along with detailed financial requirements and financing sources. A project qualifies for inclusion in the CIP if it meets the following criteria:

  • Has a minimum value of $50,000;
  • Has a multiple-year useful life; and
  • Results in a fixed asset.

    Budget Process

    The budget development process is extensive and in-depth and includes a series of discussion between staff and City Council. Discussions are structured as public workshops and review the proposed revenues and expenditures for the budget year. Additionally, workshops address operating and capital improvement budgets across all City funds and departments.

    2022 Budget Presentations

    • Workshop 1 (PDF) - Monday, Oct. 25, 6 p.m., Council Chambers
    • Workshop 2 (PDF) - Monday, Nov. 8, 6 p.m., Council Chambers
    • Workshop 3 (PDF) - Monday, Nov. 22, 6 p.m., Council Chambers

    City Council Financial Updates

    Reports to the City Council provide an overview of the current status of the City's finances so that Naperville's policy makers can take measured approaches to the City's budget.

    Financial Presentations

    January 2022 (no report) | February 2022 | March 2022 | April 2022 (no report) | May 2022 | June 2021 | July 2021 | August 2021 | September 2021 | October 2021 | November 2021 | December 2021 

    Budget Reports

    The City reviews the financial position of each department and fund on a monthly basis. Reports on the City’s financial position are provided below.

    Monthly Budget Reports

    January 2022 | February 2022 | March 2022 | April 2021May 2021 | June 2021 | July 2021 | August 2021 | September 2021 | October 2021 | November 2021 | December 2021

    Financial Principles

    The City identified three principles in an effort to provide services ensuring a high quality of life for our residents through fiscal management and financial stability.

    • Principle 1 – The City will pass a structurally balanced operating budget annually

    • Principle 2 – The City commits to continuous improvement in the delivery of necessary and cost-effective services

    • Principle 3 – The City will actively seek to increase its reserves to 25 percent and reduce its debt by 25 percent in the next eight years

    The principles provide staff with a structure to implement new initiatives designed to create a sustainable financial plan for the City. Staff continues to seek future opportunities based on the three principles.

    Annual Comprehensive Financial Report

    The Annual Comprehensive Financial Report (ACFR) details the results of the City’s most recent audit. Past reports are linked below. State law, as well as local ordinances, require the City publish the report within six months of the close of each fiscal year, including a complete set of financial statements presented in conformity with generally accepted accounting principles (GAAP) and audited in accordance with generally accepted auditing standards by a firm of licensed certified public accountants.

    Payroll Budget Report

    Illinois Public Act 097-0609 (5 ILCS 120-7.3), effective Jan 1, 2012, requires municipal employers participating in the Illinois Municipal Retirement Fund to post employee compensation information. Information on employee total compensation packages equal to or exceeding $150,000 a year must be posted at least six days before approval and employees with a total compensation packages that exceeds $75,000 per year must be posted within six days of budget approval. At its discretion, in order to be fully transparent, the City of Naperville posts the complete City payroll budget. The budget reflects employees on the payroll and budgeted individual benefit packages based on participation for the specified calendar year. Union wage and benefit increases are included as per agreed contracts, general wage increase assumptions have been applied across all other employee groups.

    IMRF Employer Cost & Participation Information

    Illinois Public Act 101-0504, which amended the Illinois Pension Code, requires municipalities that participate in the Illinois Municipal Retirement Fund (IMRF) to post a link to IMRF’s Employer Cost & Participation Information webpage on the municipality’s website.

    Annual Treasurer's Report

    Each year, municipal treasurers prepare and file an account of monies received and expenditures incurred during the preceding fiscal year as specified by the State of Illinois under statue 65 ILCS 5/3.1-35-65.

    The reports provided below includes all moneys received and paid by the City of Naperville during the specified year, as well as a summary statement of operations for all funds and account groups.

    Collective Bargaining Agreements

    The following are the current collective bargaining agreements for the City of Naperville.